Your Directors have pleasure in presenting the Eighth Annual Report on the business and
operations of your Company with Audited Accounts for the year ended 31st March
2015. The financial results of the Company are summarized below:

FINANCIAL RESULTS:

(Rs. In Lacs)

PARTICULARS

STANDALONE YEAR ENDED 31st MARCH 2015

STANDALONE YEAR ENDED 31st MARCH 2014

CONSOLIDATED YEAR ENDED 31st MARCH 2015

Income from Operations

22.68

22.81

68.15

Profit Before Depreciation and Taxes

111.70

66.26

140.67

Less: Depreciation

3.83

3.49

3.83

Less : Provision for

(a) Income tax

28.50

15.08

28.50

(b) Deferred tax

(0.069)

0.62

(0.069)

Income Tax paid of Earlier years

(2.30)

0.01

(2.30)

Profit for the Year

81.73

47.06

110.70

FINANCIAL HIGHLIGHTS:

STANDALONE:-

 Income from operations stood at Rs.22.68 Lacs for fiscal 2015

 Profit before Tax for fiscal 2015 is Rs. 107.86 Lacs

 Profit After Tax for fiscal 2015 is Rs. 81.73 Lacs

 Basic earning per share for fiscal 2015 is Rs. 0.82 per share

 Recommend Dividend for the financial year 2014-2015 on Equity Shares of Rs.
10/-each at Rs. 0.20/- paise per Equity Share equivalent to 2% of the paid-up capital of
the company aggregating to Rs. 20,04,000/- (Twenty Lacs Four Thousand Rupees Only.)

CONSOLIDATED:-

 Income from operations stood at Rs. 68.15 Lacs for fiscal 2015

 Profit before Tax for fiscal 2015 is Rs. 136.83 Lacs

 Profit After Tax for fiscal 2015 is Rs. 110.70 Lacs

 Basic earning per share for fiscal 2015 is Rs. 1.10 per share

DIRECTORS:

In accordance with the provisions of the Companies Act, 2013 and the Articles of
Association, Mrs. Annu Agrawal, Director of the company retires by rotation at the ensuing
Annual General Meeting and being eligible, offers herself for reappointment.

All independent directors have given declaration that they meet the criteria of
independence as laid down under section 149(6) of the Companies Act, 2013 and Clause 52 of
Listing Agreement.

All the directors of the Company have confirmed that they are not disqualified from
being appointed as directors in terms of Section 164 of the Companies Act, 2013.

A brief resume and other details, as stipulated under the Listing Agreement for the
above director seeking re-appointment is given as Additional Information on Directors
which forms part of the Notice.

(i) Board Evaluation

Board Evaluation Pursuant to the provisions of the Companies Act, 2013 and Clause 52 of
the Listing Agreement, a separate exercise was carried out to evaluate the performance of
individual Directors including the Chairman of the Board who were evaluated on parameters
such as level of engagement and contribution and independence of judgment thereby
safeguarding the interest of the Company. The performance evaluation of the Independent
Directors was carried out by the entire Board. The performance evaluation of the Chairman
and the Non Independent Directors was carried out by the Independent Directors. The board
also carried out annual performance evaluation of the working of its Audit and
Shareholders / Investors Relations And Grievance Committee. The Directors expressed their
satisfaction with the evaluation process.

(ii) Details of Board Meetings held

During the year Four Board Meetings and one Independent Director Meeting was held. The
Details of the meetings and attendance thereof have been given in Corporate Governance
Report. The provisions of Companies Act, 2013 and Listing Agreement were adhered to while
considering the time gap between two meetings.

(iii) Constitution of Committees

The Board has constituted Audit Committee and a Shareholders / Investors Relations And
Grievance Committee, the details of which have been mentioned in the Corporate Governance
Report. Further, the nomination and remuneration committee has been constituted by the
Board in the meeting held on 30th May, 2015.

DIVIDEND:

Your directors are pleased to recommend dividend for the financial year 2014-2015 on
Equity Shares of Rs. 10/-each at Rs. 0.20/- paise per Equity Share equivalent to 2% of the
paid-up capital of the company aggregating to Rs. 20,04,000/- (Twenty Lacs Four Thousand
Rupees Only.)

Pursuant to sub-section (3) of section 129 of the Companies Act, 2013 the statement
containing the salient feature of the financial statement of a companys subsidiary
or subsidiaries, associate company or companies and joint venture or ventures is given as Annexure
1.

DIRECTORS RESPONSIBILITY STATEMENT:

Pursuant to the requirement of Clause (c) of subsection (3) of Section 134 of the
Companies Act, 2013, your Directors confirm that:

1. That in the preparation of the annual accounts for the financial year ended 31st
March, 2015 the applicable accounting standard had been followed along with proper
explanation relating to material departures.

2. That the directors had selected such accounting policies and applied them
consistently and made judgments and estimates that were reasonable and prudent so as to
give a true and fair view of the state of affairs of the Company at the end of the
financial year and of the profit and loss of the Company for the year under review.

3. That the directors had taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of the Companies Act, 2013
for safeguarding the assets of the company and for preventing and detecting fraud and
other irregularities.

4. That the directors had prepared the accounts for the financial year ended 31st
March, 2015 on a going concern basis.

5. That the directors had laid down internal financial controls to be followed by the
company and that such internal financial controls are adequate and were operating
effectively.

6. That the directors had devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems were adequate and operating
effectively

AUDITORS:

(i) Statutory Auditor

The retiring auditors, namely M/s. Bansal Bansal & Co., Practicing Chartered
Accountants, Mumbai, hold office until the conclusion of the forthcoming Annual General
Meeting and are seeking re-appointment. They have confirmed that their appointment if
made, at the Annual General Meeting, will be within the limits prescribed under Companies
Act, 2013. They have also confirmed that they hold a valid peer review certificate as
prescribed under Clause 41(1) (h) of the Listing Agreement. Members are requested to
consider their reappointment.

(ii) Secretarial Auditor

In terms of Section 204 of the Companies Act, 2013 and Rules made there under, M/s. R M
Mimani & Associates LLP, Practicing Company Secretaries have been appointed
Secretarial Auditors of the Company. The report of the Secretarial Auditors is enclosed as
Annexure 2 to this report.

(iii) Internal Auditor

M/S Pravin Chandak & Associates., Practicing Chartered Accountants, Mumbai,
performs the duties of internal auditors of the company and their report is reviewed by
the Audit committee from time to time.

COMMENTS ON AUDITORS REPORT:

Secretarial Auditor:

With regards to Point No.(a) of the Secretarial Auditors report i.e The Company has
given loans and advances in excess of the limit specified under section 186 of the
Companies Act, 2013, The Directors took the note of the same and will obtain the requried
approval from the member of the Company in the forthcoming General meeting.

With regards to Point No.(b) of the Secretarial Auditors report i.e The Company not
having appointed the Company Secretary as required under section 203 of the Companies Act,
2013, the Company has made suitable efforts for the recruitment of suitable candidate for
the post of Company Secretary.

With regards to Point No.(c) of the Secretarial Auditors report i.e The Company has
delayed in filing of certain returns/ forms with the Registrar of Companies, these
forms/returns have been filed by making the payment of the additional fee as prescribed by
the law.

With regards to Point No.(d) of the Secretarial Auditors report i.e The Company is in
process of formulating the certain policies as required under the Companies Act, 2013 and
listing agreement and will finalize the same as and when the policies are mandatorily
applicable to the Company.

VIGIL MECHANISM:

Pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013, a
Vigil Mechanism for directors and employees to report genuine concerns has been
established. The Vigil Mechanism Policy has been uploaded on the website of the Company at
http://www.comfortcommotrade.com/files/whilstleblowers.pdf.

RELATED PARTY TRANSACTIONS:

Related party transactions that were entered during the financial year were on an
arms length basis and were in the ordinary course of business. There were no
materially significant related party transactions with the Companys Promoters,
Directors, Management or their relatives, which could have had a potential conflict with
the interests of the Company. Transactions with related parties entered by the Company in
the normal course of business are periodically placed before the Audit Committee for its
omnibus approval and the particulars of contracts entered during the year as per Form
AOC-2 is enclosed as Annexure 3. The Board of Directors of the Company has,
on the recommendation of the Audit Committee, adopted a policy to regulate transactions
between the Company and its Related Parties, in compliance with the applicable provisions
of the Companies Act 2013, the Rules there under and the Listing Agreement. This Policy
was considered and approved by the Board and has been uploaded on the website of the
Company at http://www.
comfortcommotrade.com/files/related_party_transaction_policy.pdf.

EXTRACT OF ANNUAL RETURN:

The details forming part of the extract of the Annual Return in Form MGT-9 is annexed
herewith as Annexure 4.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:-

Details of Loans, Guarantees and Investments covered under the provisions of Section
186 of the Companies Act, 2013 are given in the notes to the Financial Statements.

The information required pursuant to Section 197 read with Rule 5 of The Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Companies
(Particulars of Employees) Rules, 1975, in respect of employees and Directors of the
Company is furnished hereunder:

Sr.No

Name of the Director/ KMP

Designation

Remuneration2014-15

Remuneration2013-14

Increase/Decrease

Ratio/Times per median of employee remuneration

1

Mr. Yogesh Bharti*

CFO

Rs 20000/-

--

+20,000

0.41

* Mr. Yogesh Bharti was appointed as CFO with effect from 14th February,
2015.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY:-

The Company has adequate system of internal control to safeguard and protect from loss,
unauthorized use or disposition of its assets. All the transactions are properly
authorized, recorded and reported to the Management. The Company is following all the
applicable Accounting Standards for properly maintaining the books of accounts and
reporting financial statements. The internal auditor of the company checks and verifies
the internal control and monitors them in accordance with policy adopted by the company.
The Company continues to ensure proper and adequate systems and procedures commensurate
with its size and nature of its business.

NOMINATION AND REMUNERATION COMMITTEE:

In pursuant to the provision of Section 178 of the Companies Act, 2013 it is mandatory
to constitute Nomination & Remuneration Committee. Accordingly Board has constituted
Nomination & Remuneration Committee in the Board meeting held on 30th May, 2015.

CONSOLIDATED FINANCIAL STATEMENTS:

In accordance with the Accounting Standards AS-21 on Consolidated Financial Statements
read with the Accounting Standard AS-23 on Accounting for investments in Associates, the
Audited Consolidated Financial Statements are provided in the annual report.

MANAGEMENT DISCUSSION AND ANALYSIS AND CORPORATE GOVERNANCE REPORT:

The Management Discussion and Analysis for the year 2014-15 and a detailed report on
Corporate Governance, as required under Clause 52 of the Listing Agreement (BSE-SME)
executed with the Stock Exchange, are given in separate sections forming part of the
Annual Report.

A Certificate from Statutory Auditors of the company, M/s. Bansal Bansal & Co.,
confirming compliance with the conditions of Corporate Governance stipulated in Clause 52
is annexed to the report on Corporate Governance.

FIXED DEPOSITS:

The Company has not accepted any fixed deposits as on 31st March 2015 so as
to attract the provisions of Chapter V of the Companies Act, 2013 read with Companies
(Accounts) Rules, 2014 as amended from time to time.

PARTICULARS OF EMPOLYEES UNDER COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL
PERSONNEL) RULES, 2014;

The provisions of the Companies Act, 2013 read with the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, as amended are not applicable to the
company, as there are no employees whose remuneration is in excess of the limits
prescribed.

LISTING:

The Equity Shares of the Company are at presently listed with the SME Platform of BSE
Limited. The company is regular in payment of listing fee.

CASH FLOW STATEMENT:

In conformity with the provisions of Clause 34 of the Listing agreement (BSE-SME) and
requirements of Companies Act, 2013, the Cash flow Statement for the year ended 31.03.2015
is annexed here to.

A policy on sexual harassment of women at workplace has been drafted and approved by
the Board in its meeting held on May 30, 2015. A Commitee namely Internal Control
Committee has been construed for protection of women against Sexual Harassment at the
workplace consisting of the following:-

Name of the Member

Position

Mrs. Annu Agrawal

Chairman

Mrs. Armina Norah Menezes

Member

Ms. Natasha Fatehchandka

Member

The Committee will look after the complaints received from the women employees and will
also work for Safety of Women at workplace.

ACKNOWLEDGEMENT:

Your directors place on record their gratitude for the continued co-operation and
guidance extended by the Securities and Exchange Board of India, MCX, NCDEX and BSE-SME
Limited and take this opportunity to place on record their warm appreciation of the
valuable contribution, unstinted efforts and the spirit of dedication by the employees and
officers at all levels in the progress of the Company during the year under review.

Your directors also express their deep gratitude for the assistance, Co-operation and
support extended to your company by the bankers, customers as well as the investing
community and look forward to their continued support.

Mutual Funds:

Insurance:

ATTENTION INVESTORS:

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.